RPM - SRO Registration

Know more about Self-Regulatory Organization (SRO)

In Order to ensure greater professionalism among promoters and to bring a certain level of consistency in the practices of promoters, enforcements of code of conduct and to discourage fraudulent promoters, it is proposed to introduce Self- Regulatory Organization (SROs) in the real estate sector in Maharashtra and register them with Maharera.

Causes of Self-Regulatory Organization SRO Registrations

Well, it was form with the mandate to induce transparency and ethics in the real estate business. Likewise, SRO will help to transform the unorganized Indian real estate sector into a matured and globally business sector.

Self-Regulatory Organization ( SRO ) appointed by Maharera

Well, The Maharashtra Real Estate Regulatory Authority – MahaRERA has appointed 6 developer bodies as Self-Regulatory Organizations (SROs). Whereas, the developers will have to register with these SROs as per the new rules issued by the authority.  Following is the list of Self-Regulatory Organization (SRO) appointed by maharera-

1.      NAREDCO West Foundation

2.      CREDAI- MCHI (Maharashtra Chamber of housing Industry)

3.      CREDA- Maharashtra

4.      Builders Association of India Maharashtra state

5.      Marathi Bandhkam Vyavsayik Association

6.      Brihanmumbai Developers Association

What is Rera Project Membership

RERA Project Membership (RPM) is a membership for the Promoter or developer. In Addition, Developer with the Real Estate Project can registered as a RERA Project Member with Self-Regulatory Organization (SRO) appointed by Maharera.

Benefits of Rera Project Membership (RPM Membership)

Well, with the RPM membership, developers may have access to a world of opportunities, from direct interactions with policy makers, networking with corporate majors of Indian real estate industry to assisting in framing economic and industrial policies.

Roles and Responsibilities of Self-Regulatory Organization –  SRO

1. The SRO Shall encourage its members to comply with the provisions of the Act, Applicable rules, Regulations, Orders or Circulars issued by the MahaRERA from time to time
2. The SRO Shall be re responsible for carrying out awareness and educational activities among its member
3. The SRO shall specify standard of conduct for its members and also shall be responsible for the implementation of the same by its members
4. Any information of particulars furnished to mahaRERA by the applicant shall not be false or misleading in any material respect

Click here to know the registered SRO with Maharera